Address
590 Del Monte AVE Monterey, CA
Price
$ 1,299,000
Property Attributes
  • MLS#ML81869824
  • TypeLand
  • CountyMONTEREY
  • CityMonterey
  • AreaDowntown-Fisherman Wharf
  • Zip93940
  • StyleMedical/Dental
  • Price$ 1,299,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size8,398 SqFt
Listing Provided Courtesy Of:
The Ruiz Group with KW Coastal Estates.
Data Source:
MLSListings - 40 - CA
Property Description

Located close to Downtown Monterey, Fisherman's Wharf, and many more desirable amenities, this site offers 8,400 sf of flat usable space with a 1,090 sf building, currently occupied by a dental office. Tenant has a two-year lease with an option for five more. Rents are below market due to a massive $300,000 remodel performed by the current tenant. 2.9% Cap Rate at current rents. Upside opportunity for investor or developer. Property is also zoned for high density multi-family. Keep tenant in place and generate cash flow while you develop your plans. Please do not disturb tenants. Business is not for sale. Tenants wish to remain. Shown by appointment only.

Price History
11/11/2021 Listed $1,299,000

General Features

City MONTEREY
City Limits (y/n) Yes
County Monterey
Development Status Design Review Required, Finished Lot, Other - Call Listing Agent
Incorporated Y/n Yes
Listing Agent State License 70010112
MLS Area Downtown/Fisherman Wharf
Present Use Medical/Dental
Property SubType Residential Development Land
Property Type Residential Lots & Land
Special Listing Conditions Not Applicable
Status Active
Utilities Public Utilities
Water Public
Zoning Text PC-Planned Community

Exterior Features

Fencing None
Horse Property No
Lot Acres 0.1928
Lot Description Grade - Level
Lot Size Area 8400.00
Lot Size Units Square Feet
Maximum Lot Size 8400.00
Parcel Access Accessible, City Street
Sewer/Septic Sewer - Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Land Average in 93940

Price
AVG $1.34M
$1.3M
Visits
AVG 56
4

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